Chambers UK 2021

Serle Court is highly renowned for its extensive expertise in offshore trust matters and has comprehensive knowledge of an ensemble of jurisdictions including the Channel Islands, the BVI and the Cayman Islands. The set offers further expertise in Asian jurisdictions. Its barristers are frequently instructed by firms from across the globe. Members continue to act in some of the most substantial cases in offshore jurisdictions, including Wong v Grand View in Bermuda. One instructing solicitor comments: "They are excellent without exception."

Client Service: "The clerks are great: they are very user-friendly, practical, and pragmatic." "The client service is second to none; we would not be able to run any of our cases without them."

Silks

Alan Boyle QC: "He really gets involved in a case and is really on top of the detail and just incredibly easy to work with." "He is at the top of his tree."

Elizabeth Jones QC

Philip Marshall QC:  "He is a truly excellent advocate." "Incisive and robust." "He is a serious big hitter."

Philip Jones QC

John Machell QC: "He gives excellent advice and is cost-effective and very responsive. A very high-quality silk."

Jonathan Adkin QC: "A very powerful advocate and a hugely valuable ally to have."

Richard Wilson QC: "Astute, responsive, prepared to make himself available, and the advice is always pragmatic." "Excellent to deal with and offers solid commercial advice." "He is very easy to work with and makes himself available no matter how busy he is."

Dakis Hagen QC: "He continues to be a top trust adviser and one of our absolute go-to barristers. Excellent with clients." "Excellent to work with: approachable, responsive, and always adds value to the case." "He is charming with clients and has an almost unparalleled ability to simplify complex legal principles and facts for the benefit of both solicitors and lay clients."

Juniors

Nicholas Harrison: "He is always on top of every aspect of the case. Quite outstanding." "He is very hard-working and clear-minded."

Kathryn Purkis: "A fantastic asset on matters with Jersey and English law aspects." "She is very approachable and hands-on." "Efficient, precise and extremely courteous."

Giles Richardson: "An outstanding barrister, easy to work with, solid and technically very gifted." "His pragmatic advice is world class." "He provides quick and thorough advice and inspires confidence with clients."

James Brightwell: "He is very, very knowledgeable, thoughtful, very analytical and hard-working." "A very solid, very bright, prompt and reliable senior junior to go to. He has an in-depth knowledge of trust law."

Ruth Jordan: "She is meticulous in her review of papers." "She works incredibly hard and doesn't miss anything. She has a great ability to make connections in different jurisdictions."

Matthew Morrison: "He is very good and has excellent drafting skills." "Very thorough, industrious and bright."

Legal 500 2021

For many Serle Court 'provides a good combination of commercial acumen and trusts expertise, making them an ideal set for offshore trusts and commercial work', covering a range of work in the British Overseas Territories and beyond.

Silks:

Alan Boyle QC: "He is as fantastically clever as everyone says he is."

Elizabeth Jones QC: "She has a fabulous knowledge of the law and speed at assimilating information and detail that is second to none."

Philip Marshall QC: "A natural choice for heavy-duty offshore-fraud work"

Philip Jones QC: "A great cross-examiner and strategist."

John Machell QC: "An excellent advocate who finds commercial solutions."

Jonathan Adkin QC: "Astute and commercially-minded with a no-nonsense courtroom approach."

Richard Wilson QC: "An incredibly robust advocate who is very good at reading the tribunal."

Dakis Hagen QC: "Phenomenally intelligent and a true expert in the field."

Timothy Collingwood QC: "User-friendly with an incisive mind and bags of offshore experience."

Juniors:

Nicholas Harrison: "A master at working with expert witnesses and able to build a bridge between them and the court."

Kathryn Purkis: "She strikes the necessary balance to keep both the tribunal and the client happy."

Giles Richardson: "He balances different jurisdictions with aplomb and is particularly skilled at distilling complex advice into digestible form."

James Brightwell: "James is fabulously bright and easy to work with. He is able to clearly communicate complex legal principles in a way that is understandable to clients and presents excellently."

Ruth Jordan: "Always well-prepared, she knows her area of law well."

Matthew Morrison:  "Undoubtedly one of his strengths is assimilating large volumes of information and drilling down to the key issues."

Sophie Holcombe: "Naturally blessed with strong analytical skills and commercially."

Adil Mohamedbhai: "He brings to the table a razor-sharp intellect and a collegiate approach."

Emma Hargreaves: "She has excellent insight and in-depth knowledge of trusts law."

Zahler Bryan: "Razor-smart - a great asset to a team, her input is always well-thought-out and useful."

Cross-Border Litigation Conference, Cyprus Limassol:

International & Offshore:

Geneva Trust Company (GTC) SA v IDF & Anr (Re Stingray Trust) (judgment 21/12/20):

Dakis Hagen QC appeared for the first defendant in Geneva Trust Company (GTC) SA v IDF & Anr (21/12/2020) FSD 248 OF 2017 (IKJ) in her successful application for a stay of a claim in the Cayman Islands seeking declarations as to the validity of a Cayman Islands trust which trust was already being impugned by her in ongoing litigation in Italy.  The application was met in part by the argument that the Cayman court had an exclusive statutory jurisdiction to determine such matters under s. 90 of the Cayman Trusts Law (which, it was said, in that context abrogated the power to stay on grounds of forum non conveniens);  the court noted that such had been the orthodox view historically based on authorities stretching back 20 years. 

However, having conducted a full survey of the case law, Kawaley J found that on analysis no authority was binding or persuasive as to the presence of such a statutory exclusive jurisdiction, nor was such the proper reading of the statute, and on the facts ordered a stay of the Cayman claim.  The case is also important more widely for its commentary on the scope of jurisdiction clauses in trust instruments in the wake of Crociani. 

Dakis Hagen QC appearing with Rachael Reynolds and Deborah Barker Roye (both of Ogier) represented the successful applicant.

The full judgment is accessible here. 

Bidzina Ivanishvili v Credit Suisse Life (Bermuda) [2020] CA (Bda) 13 Civ:

The Bermuda Court of Appeal (Sir Christopher Clarke, Gloster and Smellie J) has dismissed Credit Suisse Life’s appeal against wide ranging disclosure orders (save for a short separate point on waiver of privilege) granted by Hargun CJ in February 2020.

The proceedings involve claims against Credit Suisse Life for losses caused to two unit-linked life insurance policies in which the claimants invested USD755m. The claimants contend that the losses were caused by fraud and mismanagement of the policy assets, and have brought proceedings against Credit Suisse Life for breach of duty.

Against the backdrop of the unsatisfactory disclosure given by Credit Suisse Life, Hargun CJ ordered Credit Suisse Life to provide detailed information about its disclosure process. Credit Suisse Life appealed, arguing that the Bermuda court had no power to make such orders. The Court of Appeal held that the Bermuda court had an inherent power to introduce procedural innovations in the interests of justice, and in doing so set a new precedent for discovery orders under Bermuda law (Judgment [2020] CA (Bda) 13 Civ).

Sophie Holcombe acts for the Claimants, instructed by Signature Litigation LLP, together with Hurrion & Associates. Click here to view the judgment.

Basin Supply Corporation v (1) Rouge LLC (2) Claude Barret [2018] CFI 057:

James Weale (instructed by Dentons) acted for the successful claimant in a claim to enforce the terms of a promissory note and a related guarantee. This followed James’ successful dismissal of a jurisdiction challenge submitted to the JJC. H.E. Justice Ali Al Madhani held that an express choice of law agreement in a negotiable instrument was valid and enforceable (para 37). Moreover, the Court rejected the Second Defendant’s case that the guarantee was unenforceable by reason of a material variation pursuant to the rule in Holme v Brunskill (1871) 3 Q.B.D. 495 (paras 48-59). James also obtained an order for costs to be assessed on the indemnity basis (para 65).

A link to the judgment can be found here.

Ivanishvili v Credit Suisse Trust [2020] SGCA 62:

The Singapore Court of Appeal has dismissed Credit Suisse Trust’s jurisdiction challenge in breach of trust proceedings brought by the beneficiaries of a Singapore Trust, bringing an end to a long-running jurisdiction battle. The Court allowed the Claimants’ appeal on the grounds that Singapore was the most appropriate forum to determine the breach of trust claims against the trustee, and laid down important guidance as to the effect of forum for administration clauses in trust deeds. The Court of Appeal held that the forum for administration clause in the trust deed functioned as a jurisdiction clause, but that it did not govern all proceedings: it designated the jurisdiction that had supervisory jurisdiction over the trust, rather than dictating the venue for the resolution of contentious disputes. Jonathan Adkin QC and Sophie Holcombe act for the Claimants, instructed by Signature Litigation LLP, together with Drew & Napier (Singapore). The full Judgment can be found here.

SBM Bank (Mauritius) Ltd v Renish Petroleum FZE:

In SBM Bank (Mauritius) Ltd v Renish Petroleum FZE, Rupert Reed QC and James Weale act for the claimant bank in respect of an alleged $30 million fraud. Having successful resisted a jurisdiction challenge brought by one of the defendants before the joint Judicial Committee (Cassation No.5 of 2018) a final hearing in the DIFC is to be listed in 2020. 

Grand Valley General Trading LLC v GGICO Sunteck Ltd DIFC CFI 044/2018, DIFC CA 007/2019:

Grand Valley General Trading LLC v GGICO Sunteck Ltd DIFC CFI 044/2018, DIFC CA 007/2019 concerns a joint venture dispute in relation to a property development in the Burj Khalifa area in on-shore Dubai. Rupert Reed QC and Sophia Hurst have obtained judgments from the DIFC courts on issues as diverse as whether a non-party 50% joint venture partner had standing to apply to set aside a default judgment for the dissolution of the joint venture company; the test of desirability under RDC 20.7 O for joining a new party; and whether the DIFC Courts had jurisdiction over the dispute, including the power to stay proceedings in favour of arbitration under Article 13 of the Arbitration Law. 

IMMS v BankMed SAL [2019] DIFC CA 013:

In IMMS v BankMed SAL [2019] DIFC CA 013, Rupert Reed QC and Gregor hogan acted on the appeal of an interim refusal to grant an injunction freezing assets to the value of USD 755 million. Although the Court declined to find a sufficient risk of dissipation, it is likely to confirm the putative jurisdiction of the DIFC Courts to grant interim relief in support of foreign court and arbitral proceedings. 

YYY Ltd v ZZZ:

Rupert Reed QC and Zoe O'Sullivan QC represented the successful claimant in YYY Ltd v ZZZ Ltd [2017] DIFC ARB 005, a landmark decision of the DIFC Court refusing to recognise a decision of the highest Dubai national court on public policy grounds. The DIFC Court held that the Dubai Court of Cassation had breached its obligations under the New York Convention by applying its own law to determine the validity of the clause, rather than the law chosen by the parties. This reaffirms the pro-arbitration bias of the common law courts, and will have importance for arbitration practitioners beyond the DIFC.

Larmag v First Abu Dhabi Bank [2019] DIFC CA 010:

In Larmag v First Abu Dhabi Bank [2019] DIFC CA 010, the DIFC Court of Appeal significantly extended the party jurisdiction of the DIFC Courts under Article 5(A)(1)(a) of the Judical Authority Law, ordering disclosure by a UAE bank on the basis that, in being 'recognised' by the Dubai Financial Services Authority in order to trade on NASDAQ Dubai, the Bank was 'authorised' to carry on financial services in the DIFC and therefore a 'Licensed DIFC Establishment'. Rupert Reed QC and Sophia Hurst act for First Abu Dhabi Bank.

Zedra Trust (Jersey) v The Hut Group Ltd:

Lance Ashworth QC, James Mather, and Dan McCourt Fritz represent the defendants in Zedra Trust (Jersey) v The Hut Group Ltd in various sets of proceedings relating to the multi-billion-pound company including an unfair prejudice. 

AF v SF [2019] EWHC 1224 (Fam):

In AF v SF [2019] EWHC 1224 (Fam) Dakis Hagen QC and James Weale acted for a respondent husband who lacked capacity in relation to a substantial financial remedy claim against a suite of ancient and dynastic trusts. 

Re Scherbakov:

Dakis Hagen QC and Emma Hargreaves continue to act for the adult children of a late Russian businessman in Re Scherbakov, a cross border dispute concerning the succession to his very substantial worldwide estate. Giles Richardson acts for the deceased's former wife and Richard Wilson QC acts for the interim administrators. 

HSBC International Trustee Limited v Tan Poh Lee FSD 175 of 2019 (IKJ):

Dakis Hagen QC and Emma Hargreaves advised the trustee in HSBC International Trustee Limited v Tan Poh Lee FSD 175 of 2019 (IKJ), a decision of the Cayman Court on the limits of the Cayman Islands' firewall legislation.

Hartogs v Rothschild AG [2019] EWHC 1915:

Richard Wilson QC and James Weale (acting for the Claimant and Defendant respectively) successfully set aside two multi-million-dollar trust on the ground of equitable mistake in Hartogs v Rothschild Trust AG [2019] EWHC 1915.

Re L&M Trust:

Timothy Collingwood continues to act for the Claimants in Re L&M Trust, in proceedings in the BVI seeking to set aside a trust. He appeared at the hearing of an application to obtain unredacted copies of documents held by a receiver appointed over the trust assets.

T Trusts:

In the T Trusts, Kathryn Purkis continues to advise new trustees in relation to trusteeship transfer issues arising in a network of family trusts, including in relation to an allegedly forged deed of indemnity.

Sofer v SwissIndependent Trustees [2019] EWHC 2071:

Richard Wilson QC and James Weale had a $20 million claim in fraud struck out in Sofer v SwissIndependent Trustees [2019] EWHC 2071. The Court gave important guidance on the nature nature and scope of trustee exemption clauses and the requirements of pleading fraud against a professional trustee. 

ITG Ltd and Bayeux Ltd v Geneva Trust SA [2019] GRC 064:

James Brightwell acted for the Plaintiffs and Timothy Collingwood acted for the new trustees in the latest Tchenguiz instalment, ITG Ltd and Bayeux Ltd v Geneva Trust SA [2019] GRC 064, where the Guernsey Royal Court followed the decision in Re Z Trusts on the priority of trustee creditor claims and held that the assignment of a claim to the present trustees had resulted in the discharge of the debt.

PTNZ v AS:

Richard Wilson QC and Zahler Bryan acted for the trustee in PTNZ v AS a Public Trrustee v Cooper application concerning the restructuring if an English trust, and John Machell QC and Zahler Bryan acted for the trustee in the same case seeking an injunction regarding the validity of the appointment of a protector. 

Re B:

John Machell QC and Dakis Hagen QC appeared before the Chief Justice of the Cayman Islands in Re B, a Public Trustee v Cooper application approving the restructuring of a $1bn trust. Emma Hargreaves was junior counsel to the Protection Committee.

Wong v Grand View Private Trust Company Ltd:

Dakis Hagen QC and Emma Hargreaves act for the Plaintiffs, and Jonathan Adkin QC and Adil Mohamedbhai act for the Defendant trustee in Wong v Grand View Private Trust Company Ltd, a claim to recover substantial trust property transferred to a trustee of a purpose trust. The Plaintiffs successfully obtained summary judgment on the ground that powers of addition and exclusion cannot be exercised in a manner which alters or destroys the substratum of the trust ([2019] SC (Bda) 37 Com (5 June 2019)), but the judgment of the Bermuda Court of Appeal on that issue is awaited. Richard Wilson QC and James Weale act for an intervenor in the appeal.

Watson v Kea Investments:

Elizabeth Jones QC, Philip Marshall QC, Justin Higgo, Gareth Tilley, Paul Adams, Zahler Bryan, and Oliver Jones continue to act for Kea Investments in the ongoing litigation against Eric Watson, following the judgment obtaining in July 2018 on the basis of deceit and breach of fiduciary duty. So far this year there have been decisions on equitable interest ([2019] 4.W.L.R 145(CA)) and the availability of gateway 3(1) for service out of the jurisdiction of enforcement proceedings ([2019] EWHC 309), several freezing and notification injunctions, and a claim launched against the former solicitors to the joint venture company which underlay the original fraud. Committal proceedings are also underway. 

Please click here for the most recent judgment.

Shanda Games Ltd v Maso Capital Investments Ltd & Ors (Cayman Islands) [2020] UKPC 2:

Philip Jones QC appeared in the Cayman Islands Court of Appeal in Shanda Games, one of China's largest computer games companies which delisted from the NYSE on a merger taking place. This was the first case to reach the Court of Appeal in relation to section 238 of the Cayman Companies Law, and involves an important point of principle as to whether a minority discount should be placed to valuation of shares of dissenting shareholders to a merger. Judgment is awaited, and the matter is expected to reach the Privy Council.

Please click here to view the judgment.

Investec Trust (Guernsey) Ltd v Glenalla Properties Ltd [2018] UKPC 7:

Kathryn Purkis  and James Brightwell obtained judgment in and undertook the costs arguments in respect of the Privy Council decision of Investec Trust (Guernsey) Ltd v Glanalla Properties Ltd [2018] UKPC 7. This case confirmed (amongst other things) that the private international law status of trustees (at least of Channel Island trusts), and that notwithstanding the Jersey legislation, a creditor must nonetheless access trust funds by being subrogated to the trustee's indemnity from the fund. 

Please click here to view the judgment. 

O’Keefe & Anor (In Their Capacity As Joint Liquidators of Level One Residential (Jersey) Ltd and Special Opportunity Holdings Ltd) v Caner & Ors [2017] EWHC 1105 (Ch):

Kathryn Purkis acted for the first defendant in O'Keefe v Caner, in which the High Court will decide on expert evidence the vexed question of what limitation period applies (or periods apply) under Jersey law to breaches of director' duties, both fiduciary and of skill and care.

Please click here for the judgment.

Grupa Ozarow v Clean Energy Trading CL:

Professor Jonathan Harris QC (Hon.) and Sophie Holcombe acted for the defendant company trading in Carbon Credits in successfully discharging an ex parte injunction obtained in support of Polish proceedings on the basis, inter alia, that the relevant EU jurisdiction rules were arguably infringed.

Please click here for the judgment.

Gulf Business:

'Covid-19 impact: How fast has dispute resolution transitioned to a digital model in UAE' article by Zoe O'Sullivan QC

Gulf News:

'COVID-19 fallout: Businesses will soon be testing UAE’s legal boundaries' article by Rupert Reed QC and Gregor Hogan